Ireland sees gas prices rise and warns of higher electricity prices

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Energy prices are expected to rise later this year in Ireland according to Ireland's energy provider Bord Gáis Energy, who  warned of higher costs.  The anticipated rise in gas prices will also push up electricity prices.

While the wholesale price of gas increased in May, wholesale oil, coal and electricity prices all fell. Overall wholesale energy prices fell 5%, according to the Bord Gáis Energy Index, but remained 27% higher than a year ago.

Bord Gáis Energy trading analyst Michael Kelleher said;

“Futures markets are predicting relatively stable prices for the remainder of the summer, but a return to higher prices in the fourth quarter of this year. This is primarily due to expected higher natural gas prices."

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